Research analysts at Argus assumed coverage on shares of United Rentals Inc. (NYSE:URI) in a report issued on Tuesday. The brokerage set a “buy” rating and a $90.00 price target on the stock. Argus’ price target indicates a potential upside of 11.69% from the company’s previous close.
URI has been the subject of several other reports. RBC Capital Markets reaffirmed a “hold” rating and set a $80.00 target price (up from $68.00) on shares of United Rentals in a report on Friday, July 22nd. Bank of America Corp. raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price target for the company in a report on Thursday, August 18th. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Wednesday, July 27th. Macquarie initiated coverage on shares of United Rentals in a report on Thursday, August 25th. They issued an “underperform” rating and a $92.00 price target for the company. Finally, Morgan Stanley reissued a “buy” rating on shares of United Rentals in a report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $75.61.
Shares of United Rentals (NYSE:URI) opened at 80.58 on Tuesday. United Rentals has a 52 week low of $41.90 and a 52 week high of $84.63. The stock has a market cap of $6.94 billion, a P/E ratio of 12.15 and a beta of 2.61. The stock has a 50 day moving average of $79.25 and a 200 day moving average of $70.67.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.24. The firm earned $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. United Rentals had a net margin of 10.51% and a return on equity of 50.82%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 EPS. On average, analysts expect that United Rentals will post $8.05 earnings per share for the current year.
In related news, VP Jessica Graziano sold 877 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $76.34, for a total value of $66,950.18. Following the sale, the vice president now directly owns 7,127 shares in the company, valued at approximately $544,075.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Matthew John Flannery sold 15,046 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $78.12, for a total transaction of $1,175,393.52. Following the sale, the chief operating officer now owns 23,663 shares in the company, valued at $1,848,553.56. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of URI. Acadian Asset Management LLC raised its stake in shares of United Rentals by 151.7% in the first quarter. Acadian Asset Management LLC now owns 4,077 shares of the company’s stock worth $254,000 after buying an additional 2,457 shares during the period. Nisa Investment Advisors L.L.C. raised its stake in shares of United Rentals by 2.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 22,700 shares of the company’s stock worth $1,412,000 after buying an additional 500 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of United Rentals during the first quarter worth about $286,000. Ngam Advisors L.P. raised its stake in shares of United Rentals by 3.2% in the first quarter. Ngam Advisors L.P. now owns 62,563 shares of the company’s stock worth $3,891,000 after buying an additional 1,914 shares during the period. Finally, Teachers Advisors Inc. raised its stake in shares of United Rentals by 13.3% in the first quarter. Teachers Advisors Inc. now owns 189,602 shares of the company’s stock worth $11,791,000 after buying an additional 22,289 shares during the period. Institutional investors own 90.93% of the company’s stock.
About United Rentals
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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